Highlighting the presence of the Research Triangle Park and three Tier-1 research universities located within a few minutes from each other (Duke University, North Carolina State University and University of North Carolina Chapel Hill), the Research Triangle Regional Partnership (RTRP) is bent on becoming a top economic center in the state, the country, and the world.
As an economic development organization, RTRP connects companies looking to expand with government agencies and business organizations in the state, ranked No. 1 by Forbes from 2017 to 2019 as the Best Place for Business. Until its corporate tax regime expires in 2030, North Carolina will have the lowest rates in the country.
Apart from the business-related advantages, the Research Triangle Region is also an ideal place to live.
“From an affordability standpoint, we’re a lot cheaper than a lot of the markets that we go up against, like New York, Boston, and San Francisco,” said RTRP Executive Director Ryan Combs, who also cited a Delta Airlines presentation that named the region as one of the country’s “most recession-proof communities.”
North Carolina has already proven its worth to many foreign multinationals, namely Toyota and HondaJet. Global car giant Toyota has announced plans to build a large battery plant near Greensboro, where HondaJet is expanding its production facility and set up its global headquarters in 2006.
Regarding RTRP’s short-term plans, Combs said the organization will step up its promotion of the Research Triangle Region internationally in order to attract more foreign investments to the area.
